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GLOBAL MARKETING. Marketing Strategy. Strategy is integrated action in pursuit of competitive advantage Offering unique value to customers that cannot be duplicated by competitors. Benefits of Strategy. Coordinates activities among functional areas of organization Defines resource allocation

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Presentation Transcript
global marketing

GLOBAL MARKETING

Marketing Strategy

slide2
Strategy is integrated action in pursuit of competitive advantage
    • Offering unique value to customers that cannot be duplicated by competitors.
benefits of strategy
Benefits of Strategy
  • Coordinates activities among functional areas of organization
  • Defines resource allocation
  • Leads to a superior market position
components of strategy
Components of Strategy

Statement of objectives

Establish general

direction of strategy

Selection of strategic alternative(s)

Selection of customer targets

Choice of competitor targets

Positioning

Statement of core strategy

Description of supporting marketing mix

Implement

strategy

Description of supporting functional programs

considerations for global strategy
Considerations for Global Strategy
  • Political risk
  • Market access
  • Land, labor, and capital costs
  • Shipping considerations
  • Country infrastructure
  • Foreign exchange
  • Product fit
international market entry
International Market Entry
  • Sourcing
    • Should the firm export or produce locally?
      • Licensing
      • Investment
        • Joint ventures
        • Sole ownership
      • Global strategic partnerships
market expansion strategies
Market Expansion Strategies
  • Should the firm seek new markets in countries in which it already operates or seek new country markets for already identified and served market segments?
slide8
Market Segmentation

Concentration

Diversification

Narrow focus

Country focus

Concentration

Country

Country

diversification

Global

diversification

Diversification

generic marketing strategies
Generic Marketing Strategies

Cost

Leadership

Differentiation

Broad

target

Competitive Scope

Cost Focus

Focused

Differentiation

Narrow

target

Lower cost

Differentiation

Competitive Advantage

broad market strategies
Broad Market Strategies
  • Cost-leadership advantage
    • Low-cost producer
    • Experience curve
    • Need to obtain largest market share to have lowest cost per unit in industry
    • Ability to offer lower prices and more value to customers in competitive stages of product life cycle
slide12
Differentiation
    • An actual or perceived uniqueness in product offering
    • Ability to command premium price
narrow target strategies
Narrow Target Strategies
  • Focused Differentiation
    • Offers a narrow target market the perception of product uniqueness at a premium price
  • Cost Focus
    • Offers a narrow target market lower prices than the competition
slide14
Differentiation
    • adding a set of meaningful and valued differences to distinguish the firm’s offering from competitors’ offerings
    • Criteria:
      • important • preemptive
      • distinctive •affordable
      • superior •profitable
introduction stage
Introduction Stage
  • Objective: Create awareness and product trial

Product—offer a basic product

Price—charge cost-plus

Distribution—selective

Communications—target advertising to early adopters and dealers to increase awareness; heavy sales promotion to stimulate trial

growth stage
Growth Stage
  • Objective: Maximize market share

Product—product extensions, warranties

Price—decrease prices to penetrate

Distribution—intensive

Communications—target advertising to mass market to increase awareness; reduce sales promotions

maturity stage
Maturity Stage
  • Objective: Maximize profit while defending market share

Product—diversify products and brands

Price—match or best competitors’ prices

Distribution—more intensive

Communications—use advertising to stress brand differences and benefits; increase sales promotions to encourage brand switching

decline stage
Decline Stage
  • Objective: Reduce expenditure and milk the brand

Product—phase out weak models

Price—cut price

Distribution—selective; phase out unprofitable outlets

Communications—reduce and target hard-core loyals; reduce sales promotions to minimal levels

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